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Does Money Impact Cancer Doctors??

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Does Money Impact Cancer Doctors?? A doctor from the Memorial Sloan-Kettering Cancer Center in New York led a study reviewing research on the impact of fee-for-service payment on oncologist decision making.
Fee-for-Service payment incentivizes doctors to perform more frequent and more expensive tests, procedures and treatments. 73% of doctors are in favor of fee-for-service and only 3% of doctors think money impacts their decision making.
The study is a meta-analysis of 18 studies involving prostate, breast, lung, bladder and colon cancers.
The meta-analysis found:
1) Oncologists ordered more Radiation Therapy when their practice owned a Radiation Therapy Facility (as they would also receive the radiation therapy facility fees in addition to doctor professional fees).
2) Oncologists tended to order more expensive chemotherapy and when a chemotherapy became generic and less expensive, they ordered less of it (oncologists make more money from ordering expensive chemotherapy as opposed to less expensive, generic chemotherapy).
As the article concluded, "Expecting physicians to practice blind to incentives is unrealistic."
Sources:
AHealthcareZ is 400+ Healthcare Finance Educational Videos.
AHealthcareZ Viewers Include: Employee Benefits Professionals, HR, CFOs, Insurance Brokers, Benefits Consultants, Doctors and Nurses in Leadership Roles, Hospital and Health System Administrators, Health Insurance Carrier and PBM Professionals, Pharma and Med Device Professionals, Academic Professors and Students in Healthcare Administration and Public Health.
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Fee-for-Service payment incentivizes doctors to perform more frequent and more expensive tests, procedures and treatments. 73% of doctors are in favor of fee-for-service and only 3% of doctors think money impacts their decision making.
The study is a meta-analysis of 18 studies involving prostate, breast, lung, bladder and colon cancers.
The meta-analysis found:
1) Oncologists ordered more Radiation Therapy when their practice owned a Radiation Therapy Facility (as they would also receive the radiation therapy facility fees in addition to doctor professional fees).
2) Oncologists tended to order more expensive chemotherapy and when a chemotherapy became generic and less expensive, they ordered less of it (oncologists make more money from ordering expensive chemotherapy as opposed to less expensive, generic chemotherapy).
As the article concluded, "Expecting physicians to practice blind to incentives is unrealistic."
Sources:
AHealthcareZ is 400+ Healthcare Finance Educational Videos.
AHealthcareZ Viewers Include: Employee Benefits Professionals, HR, CFOs, Insurance Brokers, Benefits Consultants, Doctors and Nurses in Leadership Roles, Hospital and Health System Administrators, Health Insurance Carrier and PBM Professionals, Pharma and Med Device Professionals, Academic Professors and Students in Healthcare Administration and Public Health.
90,000+ Views Per Month Across All Platforms.
Visit AHealthcareZ.com to Subscribe to the Healthcare Finance Video Newsletter.
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